The new warehouse is the first facility in Vietnam to provide a super frozen storage room, which reaches as cold at -58 degrees Fahrenheit.
Meanwhile, just this Friday, the Shanghai Shipping Exchange said its Shanghai Containerized Freight Index declined 6.2 percent from last Friday’s reading of 670.29 to a reading of 628.59.
William E. (Bill) Woodhour became president of Maersk Line, Ltd. (MLL) July 1 and will eventually become chief executive officer of the company, taking over from Russ Bruner, who has been president and CEO of MLL since 2014.
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The expanded Panama Canal locks, which just opened June 26 to handle vessels up to 14,000 TEUs, are expected to reshape U.S. East Coast port operations.
The massive $5.3 billion project comes with “considerable safety concerns,” which could lead to accidents and delays for shippers and higher claims for insurers, according to a new report from the London-based risk management consultancy.
Federal Maritime Commissioner Richard A. Lidinsky Jr. said that ports in the United States must continue to expand and improve to handle rising container volumes in order to stay competitive with neighboring foreign ports.